PM Grindeanu suggests inter-ministerial team to deal with new Black Sea energy projects

At a meeting on Monday with a delegation of a consortium made up of oil corporations ExxonMobil and OMV Petrom, Prime Minister Sorin Grindeanu suggested the establishment of an inter-ministerial team to secure technical support in favour of new energy projects likely to develop in the Black Sea under Romania's jurisdiction.

"Investors have in the governmental team a serious partner that understands its responsibilities: securing legislative stability and predictability and fair taxation, both for the private and for the public sectors," Grindeanu is quoted as saying in a press statement released by the Romanian Government.

Grindeanu also voiced the Romanian Government's openness and support for capitalising on energy resources in sustainable and competitive ways, given its commitments to guaranteeing energy security.

At the meeting hosted by the Government House in Bucharest, ExxonMobil Development Company Vice-President David Cochrane and OMV Petrom CEO Mariana Gheorghe unveiled a project for deep drilling for natural gas for a final investment decision.

Romania's Economy Minister Mihai Tudose is quoted as saying projects with an amplitude like the one unveiled by ExxonMobil and OMV Petrom can contribute toward turning Romania into a regional industrial hub for offshore projects.

Also attending the meeting were Romanian Government's Secretary General Mihai Busuioc; senior official with the Romanian Finance Ministry Ionut Misa; state adviser Marius Nica and chairman of the Transgaz Administration Board Ion Sterian.